Medtech startup SVASTEK has raised Rs 2 crore in a seed funding round led by IAN Angel Fund.
It plans to launch the ALLTIP-enabled NIV mask across India, build a distributor network to enhance product availability, enlarge its clinical application team, and push for awareness at medical conferences and focused outreach programs, SVASTEK said in a press release.
Founded by Arita Abrol in 2022, SVASTEK is a health-tech startup developing patented solutions designed for large-scale hospital use in solving challenges related to respiratory and critical care. The company empowers patient care by addressing some critical gaps in existing medical technologies.
According to the firm based in Delhi, its flagship product, ALLTIP Technology-enabled NIV mask, provides a novel solution for continuous non-invasive ventilation and simultaneous nutrition delivery, thereby improving clinical outcomes and reducing risks from malnutrition for patients on long-term respiratory support.
As per market research, the respiratory and critical care market in India is valued at Rs 48,500 crores approximately $5.8 billion and is growing at a CAGR of 8.3 percent.
It has innovative plans to enlarge the product portfolio and geographical footprint and the company aim is to establish itself as a global leader in respiratory care through innovation, affordability, and approachability in healthcare.
